Fitch Maintains People’s Bank’s National Rating of ‘A(lka)’ on Watch Negative.
Fitch Ratings – Colombo: Fitch Ratings has maintained the Rating Watch Negative (RWN) on the ‘A(lka)’ National Long-Term Rating of People’s Bank (Sri Lanka) (PB). KEY RATING DRIVERS RWN Maintained: The RWN on PB’s National Long-Term Rating reflects the potential for the bank’s creditworthiness relative to other entities on the Sri Lankan national ratings scale to […]
Evergrande, Kaisa cut by Fitch to default
Ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group. They stated that they had defaulted on offshore bonds. Also, Kaisa had started work on restructuring its $12 billion offshore debt. The downgrades to the restricted default status come even though Evergrande. And Kaisa have not officially announced defaults that could result in […]